FKL.L Share News (FKL)

Cluff Gold's production is now above estimates at the half year with cash costs continuing to fall compared to 2009. "Kalsaka has achieved its best operating performance to date, whilst the new crushing facility now being commissioned at Angovia is expected to have a significant effect on the production profile in the second half of the year. We are confident that we will remain on track to meet our estimated production target of 100,000oz of gold in 2010," chairman Algy Cluff said.First half old production totalled 52,109oz, an increase of 56% over H1 2009 as ramp-up and optimisation continue at both Kalsaka and Angovia. Average realised gold price in the period of was $1,149/oz.Ocean Power's revenue grew by 5% to $1.4m for the quarter ended July 31, 2010, compared to $1.3m for the quarter ended July 31, 2009. "We have made a good start to this fiscal year with an increase in contract order backlog and continued progress on our utility and autonomous PowerBuoy projects in the US and UK, and a strengthening of our management team," said Charles F Dunleavy, chief executive.Falkland Island has traded in line with management's expectations with satisfactory performances at each of the operating businesses despite challenging trading conditions. "At the Falkland Islands Company, the disappointing illex squid catches in April and May 2010 resulted in a quiet start to the year. However, oil exploration has boosted activity on the islands, especially in the retail sector. Benefiting from the expanded West Store, year to date retail sales are up 24% on the comparable period last year. However, automotive sales have remained subdued and profits from property sales are currently behind last year," its statement said. Regal Petroleum is plugging and abandoning its exploration well E-1 Sagna in Romania. Despite encouraging gas shows noted during drilling, no gas inflow was established. With the completion of this operation, the company said it has fully discharged its obligations with respect to the Barlad concession in Romania and a strategic review of its Romanian assets is underway.